Binance Spends $283 Million Cleaning Up Weekend Market Chaos

Binance has announced it will compensate users a total of $283 million following collateral asset depegging incidents during the October 10 market crash. The exchange blamed a mix of thin liquidity, long-dormant limit orders dating back to 2019, and UI display errors. Binance Pays $283 Million To Affected Users: All You Need to Know In the official statement shared late Sunday, the exchange articulated that the event was “macro-driven volatility,” not a platform failure. Binance acknowledged that global macroeconomic stress led to concentrated sell-offs by institutional and retail traders, triggering sharp price declines across crypto markets source: https://beincrypto.com/binance-spends-283-million-weekend-market-chaos/